Banque Misr’s Islamic banking increases to EGP7.8bln in June 2018
Egypt’s second-largest state-owned bank, Banque Misr announced that its Islamic banking portfolio has increased to 7.8 billion Egyptian pounds by the end of June 2018.
The Islamic banking has increased by 2.1 billion pounds compared to the last fiscal year in the fields of joint facilities, corporate credit, small, medium and micro enterprises and retail banking.
Recently, Banque Misr has been awarded Islamic Finance News Organization award “Deal of the year 2017” for the best Islamic syndicated finance deal “Musharakah”.
Banque Misr has pioneered the Islamic Banking field, as Banque Misr is the first among the Public Sector Banks that initiated Islamic Transaction branches i.e. “Kenana”.
In addition, in response to the huge demand and development that Islamic Banking field has witnessed, Banque Misr has developed various innovative Sharia-compliant services and products under the supervision of Sharia Board so as to meet the customers’ needs regarding the different banking products and services.